CMA CGM to Buy Ceva Logistics
French shipping group CMA CGM has made a voluntary public tender offer to Swiss transport company Ceva Logistics as part of its strategy to “broaden their partnership and sign a new relationship agreement”
CMA CGM has been Ceva Logistics’ reference shareholder since its listing on the SIX stock exchange in May 2018. CMA CGM signed a new relationship agreement with Ceva on Wednesday October 24th to reinforce the industrial cooperation between the two companies.
All the Ceva shareholders will have the opportunity to benefit from the substantial value creation expected from this cooperation with a commitment to keep the Ceva shares listed.
This industrial cooperation has received the full support of Ceva Logistics’ board of directors and management. It preserves Ceva Logistics’ assets and identity.
Rodolphe Saadé, Chief Executive Officer of CMA CGM said: “We are convinced of Ceva Logistics’ potential. This industrial cooperation will make it possible to accelerate its required transformation and to make it a more profitable and efficient leader in logistics for the benefit of its clients, its employees and its shareholders. It reconfirms CMA CGM as the reference shareholder as well as its long-term partner.”
"The solicitation and offer to buy CEVA securities will only be made pursuant to an offer to purchase and related materials. Investors and security holders are urged to read the offer to purchase and related materials carefully when they become available," said a press release from the company.